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CCD · Calamos Dynamic Convertible and Income Fund

Know the company

Company overview

Calamos Dynamic Convertible and Income Fund holds convertible securities alongside bonds, loans and preferred shares. Its mix collects interest and dividends while giving the portfolio some exposure to stock-market gains and losses.

Business: Convertible and multi-asset income funds
Listing: CCD · NASDAQ
Reporting period: 2026-04-30
Dividend schedule: Monthly

How the business works

Interest and dividends, less fund and financing costs, become net investment income. Convertible prices and realized investment results affect the broader return and net asset value, which an income-only figure cannot capture.

Calamos Dynamic Convertible and Income Fund: financial report supporting reported earnings

Dividend & earnings snapshot

Dividend payments

Per common share

$0.195Reviewed declaration · Payment Sep 21, 2026

Regular dividend

Announced Sep 1, 2026

Dates and company reports

Announcement: Sep 1, 2026
Declaration: Sep 1, 2026
Ex-dividend: Sep 14, 2026
Record: Sep 14, 2026
Payment: Sep 21, 2026

Dividend declaration for payment Sep 21, 2026 · www.calamos.com · Announced Sep 1, 2026

Extras are shown separately and are not assumed to repeat.

Reported earnings

Each measure shown separately, per share

Net investment income-$0.42

Nov 1, 2025 to Apr 30, 2026

Distribution yield9.75%Sourced distributions divided by dated market price

Reported annual income yield-3.43%Reported net investment income $-0.7500 per share for 2024-11-01 to 2025-10-31, divided by approved 2025-10-31 market price $21.8800. Excludes capital gains; historical, not a current yield or forecast.

Annual dividend$2.34Current regular payment annualized per share

Dividend payment history

Date or month	Per share
Sep 21, 2026	$0.195
Aug 21, 2026	$0.195
Jul 21, 2026	$0.195

Reported earnings and sources

Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.

Reporting period	Per share	Source
Nov 1, 2025 to Apr 30, 2026	-$0.42	Company Announced Jun 30, 2026

Cash distributions and reported returns

Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.

Reporting period	Ending NAV	NAV change	Distributions / share	Reported NAV total return	Source
Nov 1, 2025 to Apr 30, 2026	$23.94	+9.82%	$1.17	+16.02%	CCD financial highlights in the SEC shareholder report for 2026-04-30. Distributions are total cash per share for the stated period, including any capital-gain or return-of-capital component. Partial periods are not annualized.
Nov 1, 2024 to Oct 31, 2025	$21.80	+13.31%	$2.34	+26.63%	CCD financial highlights in the SEC shareholder report for 2026-04-30. Distributions are total cash per share for the stated period, including any capital-gain or return-of-capital component. Partial periods are not annualized.
Nov 1, 2023 to Oct 31, 2024	$19.24	+11.60%	$2.34	+24.63%	Exact fund Financial Highlights in the SEC annual report for fiscal 2024. Cash paid to common shareholders and reported NAV total return are separate observations. Negative net investment income remains a distinct source line, not an earnings-coverage measure.

View older history (up to 7 years)

Reporting period	Ending NAV	NAV change	Distributions / share	Reported NAV total return	Source
Nov 1, 2022 to Oct 31, 2023	$17.24	-14.61%	$2.34	-4.26%	Exact fund Financial Highlights for this common-share fiscal year in the SEC annual filing. Cash distributions and reported NAV total return are historical outcomes, not an earnings-coverage or distribution-support assessment.
Nov 1, 2021 to Oct 31, 2022	$20.19	-36.37%	$2.34	-29.91%	Exact fund Financial Highlights for this common-share fiscal year in the SEC annual filing. Cash distributions and reported NAV total return are historical outcomes, not an earnings-coverage or distribution-support assessment.
Nov 1, 2020 to Oct 31, 2021	$31.73	+26.92%	$2.26	+36.76%	Exact fund Financial Highlights for this common-share fiscal year in the SEC annual filing. Cash distributions and reported NAV total return are historical outcomes, not an earnings-coverage or distribution-support assessment. Own SEC Financial Highlights Market value, end of year is a fiscal-period observation, not a recovered exchange close. The saved raw archive differs or has no nearby close; retain it separately.
Nov 1, 2019 to Oct 31, 2020	$25.00	+25.44%	$2.00	+38.59%	Exact fund Financial Highlights for this common-share fiscal year in the SEC annual filing. Cash distributions and reported NAV total return are historical outcomes, not an earnings-coverage or distribution-support assessment.

NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.

Distribution and NAV evidence

Cash paid, opening and closing NAV, and the fund-reported NAV total return are separate observations. NAV change excludes distributions. These figures show outcomes, not which source funded a payment or whether future distributions are sustainable. Net investment income excludes investment gains and is not a payout-coverage ratio. CCD paid $2.34/share in each of fiscal 2024 and 2025, but $0.78/share of 2024 cash was classified as return of capital and 2025 reported none. Signed net investment income is only one part of distribution support; these rows do not establish a payout-coverage ratio.

Reporting period and filing	Net investment income/share	Cash distributions/share	Opening NAV	Closing NAV	NAV change	Reported NAV total return
2025-11-01 to 2026-04-30	-$0.42	$1.17	$21.80	$23.94	9.82%	16.02%
2024-11-01 to 2025-10-31	Not reviewed	$2.34	$19.24	$21.80	13.31%	26.63%
2023-11-01 to 2024-10-31	-$0.89	$2.34	$17.24	$19.24	11.60%	24.63%

View older history (up to 7 years)

Reporting period and filing	Net investment income/share	Cash distributions/share	Opening NAV	Closing NAV	NAV change	Reported NAV total return
2022-11-01 to 2023-10-31	-$0.63	$2.34	$20.19	$17.24	-14.61%	-4.26%
2021-11-01 to 2022-10-31	-$0.43	$2.34	$31.73	$20.19	-36.37%	-29.91%
2020-11-01 to 2021-10-31	-$1.21	$2.26	$25.00	$31.73	26.92%	36.76%
2019-11-01 to 2020-10-31	$0.70	$2.00	$19.93	$25.00	25.44%	38.59%

The assets behind the earnings

How CCD makes money

Financial snapshot: 2026-04-30. Research reviewed 2026-09-18. Compare results for the reporting periods shown. Historical results are not a forecast.

The assets it owns

$674.555 million net assets600 holdings · As of 7/31/2026

Net assets checked 2026-09-11. Borrowings and preferred financing are excluded from this net-assets figure.

A complete, comparable portfolio allocation is not available for this chart. No percentages have been estimated.

Calamos Dynamic Convertible and Income Fund: net assets and portfolio information, checked 2026-09-11

Reported earnings and distributions

2025-11-01 through 2026-04-30 · $ per share

Fund net investment income per common share; actual reporting period, not annualized−$0.4200

For the six months ended April 30, 2026, CCD reported a $0.42 net investment income loss and $1.17 of distributions per share. Net asset value rose from $21.80 to $23.94. That stronger ending value provides context, but it does not identify which payment components can recur.

Calamos Dynamic Convertible and Income Fund: financial report supporting reported earnings

The income-producing business

Portfolio dividends and interest, realized investment results and any option activity contribute to distribution resources after expenses. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.

The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.

Calamos Dynamic Convertible and Income Fund: financial report supporting reported earnings

Financing can amplify income and losses

The portfolio information checked September 11, 2026 reports effective leverage of 29.68%.

Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.

Calamos Dynamic Convertible and Income Fund: net assets and portfolio information, checked 2026-09-11

What the reported earnings support

Calamos Dynamic Convertible and Income Fund reported $-0.4200 per share for 2025-11-01 through 2026-04-30, measured as Fund net investment income per common share; actual reporting period, not annualized.

Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.

Calamos Dynamic Convertible and Income Fund: financial report supporting reported earnings

Portfolio risk

Losses or weaker cash generation in convertibles, equities and corporate credit can reduce the resources available for future distributions.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

Calamos Dynamic Convertible and Income Fund: financial report supporting reported earnings

Distribution sustainability

A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

Calamos Dynamic Convertible and Income Fund: financial report supporting reported earnings

What would change the earnings picture?

Compare the next like-length income, investment results and cash paid. Check convertible and credit exposure, financing costs, distribution components and net asset value together.

Net asset value (NAV)

NAV per share$23.09Sep 29, 2026

Market price$22.48Sep 29, 2026

PREMIUM / DISCOUNT TO NAV2.64% discountCalculated from the displayed same-date values.

NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.

CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.

NAV source · Market-price source

Fly High context

Compare the next like-length income, investment results and cash paid. Check convertible and credit exposure, financing costs, distribution components and net asset value together.

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U.S. federal · Tax year 2025

Dividend tax treatment

The fund's final 2025 breakdown shows mainly ordinary dividends. The mix can change from year to year.

This company information is a guide, not your personal tax statement. Use your Form 1099-DIV when you file.

Ordinary, nonqualified: 93.31%
Qualified dividends: 6.41%
Capital-gain distributions: 0.27%
Return of capital: 0%

Tax year: 2025. Total distributions: $2.34 per share.

Tax details and source

Total ordinary dividends (includes qualified): 99.73%
Section 199A portion (within ordinary dividends): Not confirmed
Exempt-interest distributions: Not confirmed
Reporting form: Form 1099-DIV
Source date: Not stated

Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.

Tax source

Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.

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